🪙 Bitcoin Stabilizes Above $111,000, But the Scenario Remains Mixed.
Bitcoin ($BTC ) continues in a consolidation period, navigating between $111,000 and $112,500 after the recent drop from its peak. But what does this mean for the market?
Factors to watch:
* Selling Pressure: Large selling volumes, including a deposit of 490 BTC ($55.09M) on Binance, signal selling pressure from major players.
* Bearish Sentiment: The buy-sell ratio over the last 30 days is at its lowest level since 2018, indicating a sentiment of caution and persistent pessimism among investors.
* Support Amid Turbulence: Despite the downward movement, medium-scale inflows are providing temporary support, showing that there is still capital entering the market.
* Potential Bullish Factors: Accumulation strategies from large investors and the launch of new yield products may act as bullish factors in the long term.
Key points for your trading strategy:
* Support and Resistance Levels: Keep an eye on the levels of $111,000 (support) and $115,000 (resistance).
* Regional Disparity: Buying and selling behavior varies globally, with net sales in Asia and net purchases in Europe, demonstrating the complexity of the current market.
The scenario is one of uncertainty, but with the right factors in mind, it is possible to navigate with more confidence. What do you think will happen next? Share your opinion in the comments!
